We’ve built a brand-new Riskalyze, packed with tons of enhancements and improvements. As a part of this update, we’ve supercharged the workflow around capturing a client’s Risk Number, equipping advisors with engagement tools aimed, not just at individual clients with a single risk tolerance, but also at households, investment committees and individual clients who struggle to wrap their heads around a single risk tolerance for all of their investments.
You’ll get started as you always have - by navigating to a client’s Risk Number tab, where you’ll see the familiar options to create a Risk Target or Send a Questionnaire.
Within the Set Risk Target workflow, you’ll no longer be bound to single, pre-defined number within the selected range, but rather, you’ll be able to adjust the client’s Risk Target up and down within the range. Additionally, you’ll be able to capture notes about why a given target was selected. Any notes you provide, will be saved along with the Risk Target for your clients.
In the new Riskalyze, you’ll now have the ability to capture multiple risk tolerances and resolve any differences between those results into a single Risk Number for the client. This multi-opinion workflow is crucial in keeping both members of a household engaged throughout the process, but don't worry, the individual client experience with questionnaires is largely unchanged. You’ll have the ability, as always, to select a Simple or Detailed Questionnaire, and launch it in your browser, email it to your client directly from our system, or copy a link to the questionnaire to send out yourself. You will notice a few new optional fields you can pre-fill before launching or emailing the questionnaire:
- Client Name - If you’re working with a household (Wayne and Dianne Diaz, for example) you have the option to define a more specific “Client Name” for the questionnaire. Whatever you type here, will be used to greet the client on the first slide of the questionnaire you create. If you don’t define a client name for the questionnaire, we’ll still greet the client on the first slide of the questionnaire, with the name saved for them in Riskalyze.
- Purpose - The purpose field provides you with additional flexibility when assessing a client’s Risk Number. Whether you’re aiming to address risk tolerance at a more general goal-level, or you want to capture one per account type, defining a “Purpose” for a questionnaire allows you to define the investments a given questionnaire pertains to. Anything defined here, will be pushed to the welcome slide of the questionnaire.
- Investment Amount - As always, you can pre-fill the investment amount for a questionnaire prior to sending or launching it.
Additionally, when emailing a questionnaire directly from within Riskalyze, we’ll pre-fill the email address you have associated with the client above, but you can now edit this email address - allowing you to send questionnaires directly to any of a client or household’s other email addresses without editing the one you’ve saved as their primary email.
This workflow allows you to create and send multiple risk questionnaires for a given client or household. To do so, simply click “+ New Questionnaire” at any time.
Confirming a Risk Number
Whether your client has taken one questionnaire or taken one for each account, you’ll have a chance to review their results and confirm their final Risk Number. When all questionnaires have been completed, you’ll notice the client’s Risk Number in a Pending status from the Client List. A Pending Risk Number can be confirmed by navigating to that client’s Risk Number tab and clicking Assign Risk Number.
In the Risk Number confirmation screen you can manually adjust the suggested Risk Number by clicking the up and down arrows next to our recommendation, or select different combinations of questionnaire results to recalculate the best fit. From this screen, you also have the ability to record and save any notes about a particular Risk Number confirmation. These notes will persist along with the Risk Number once you’ve click “Confirm Risk Number” at the bottom right of the page.
Note: If the client has only taken one questionnaire, you’ll have a one-click option available from the Risk Number tab to “Confirm the Result” as their Risk Number, or enter the same confirmation workflow by clicking “Manually Adjust Risk Number”
Clicking the More Options menu on an individual questionnaire will present the following additional options:
- Set As Client Risk Number: Automatically confirms the questionnaire result as a client’s Risk Number
- Archive: Archives the questionnaire result, removing it from the list of questionnaires in consideration towards a client’s Risk Number
- Resend Questionnaire: Archives the existing questionnaire result and pre-fills a new questionnaire form with it’s same configuration of type, name, purpose, and investment amount
- Delete: Permanently deletes the questionnaire
We’ve also added a Risk Number Archive, allowing you to keep track of historical questionnaires a client has completed without cluttering their Active questionnaires list. You can move questionnaires from Active to the Archive at any time. Additionally, any time a client’s Risk Number is updated, the previous Risk Number (along with any associated notes) will be saved in the Archive.